The last week's trading action suggests that the 50-day moving average (yellow line) has become a recent level of resistance. Daily volumes have been inconsistent; Wednesday and Thursday saw jumps to over 200,000, but the 3 other days were far lower:
Looking at the monthly chart, individual candlesticks have varied a fair, but the 50MA has been hovering around $0.16 regardless:
While recent price action hasn't been that pleasing, the recent strategy document (by the new Managing Director) mentions these three things:
- IT/MSP Services now forming a material share of new customer sales and lifting ARPU every month
- Material expansion in Data network to sell from. On-net and digital network grew to expand coverage in every capital city
- Acquisition: 3-4 new target companies moving through due diligence gates (Telco & IT/MSP).
